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adamera minerals corp (ADZ) Details

Adamera Minerals Corp., an exploration stage company, is engaged in the acquisition and exploration of precious metals. The company explores for gold/silver, uranium, and copper deposits in Washington State. It holds interests in Poland/China and Golden Reward properties located in Okanogan County, Washington; and Empire Creek, Talisman, Flag Hill, and Oversight properties located in Ferry County, Washington, as well as in Alder Historic Mine Site in Washington. The company also owns interests in various properties located in Nunavut and Northwest Territories, Canada. Adamera Minerals Corp. is headquartered in Vancouver, Canada.

adamera minerals corp (ADZ) Key Developments

Adamera Minerals Corp. Provides Update on Oversight Property

Feb 24 15

Adamera Minerals Corp. announced it has significantly expanded the Oversight Property in Washington State to secure the western margin of the Overlook deposit and the possibility of a new mineralized horizon to the north. Claims to the north and northwest have been acquired to cover the westernmost high-grade portion of the previously mined Overlook deposit. The new claims secure land with 30 historic drill holes completed by Echo Bay Mines in the late 1980's. Adamera is reviewing that data to identify follow-up drill targets. The new claims cover the western margins of the Overlook deposit where drill holes show significant intercepts. Mineralization, including 8 metres of 30 g/t gold was intersected and likely mined by Echo Bay. A new area of interest to Adamera is a separate cluster of drill holes to the north with modest intercepts up to 11 metres of 2.6 g/t gold including 4 metres of 4.5 g/t gold that may represent the outer margin of another mineralized zone. There is currently no evidence of historic follow-up drilling, leaving the potential for additional Overlook style mineralization to the north. A ground magnetic survey, soil sampling and mapping program will be completed on the new claims to assist in defining drill targets. The Overlook deposit was originally reported to contain approximately 430,000 ounces of gold at an approximate grade of 5 g/t. Echo Bay Mines mined a reported 280,000 ounces of gold at an average grade of about 5.5 g/t creating the possibility that a significant amount of ore may remain at Overlook. The operating Kettle River Mill which is located 5 kilometres to the south was originally built for the Overlook deposit. A well maintained haul road between Oversight and the mill exists which may help to minimize timelines from discovery to production.

Adamera Minerals Corp. announced it has identified at least two new gold bearing vein targets on its' 100% owned Flag Hill property in Washington State. These targets are parallel to the Flag Hill vein, the primary target on the property. Plans to drill these targets are being finalized. The Flag Hill vein and the two new vein targets described in this release are all north-south trending. Deposits in the district having this orientation produced over 2 million ounces of gold and 11 million ounces of silver. Flag Hill is only 10 kilometers from the Kettle River Mill. A quartz boulder containing 4.0 g/t gold was found along a 400 meter long geochemical soil anomaly west of the Flag Hill Vein. A similar, less extensive target has been identified 200 meters to the east. It is important to note that these new target areas are predominately covered by overburden with little evidence of previous exploration work. This has prompted a re-evaluation of all geophysical and geochemical data on the property. Additional findings will be reported in due course.

Adamera Minerals Corp. announced it has received gold assays from a soil sampling program on the Oversight property in Washington State. Several areas with potential for high-grade mineralization have been identified, based on anomalous gold (up to 0.2 g/t gold) and pathfinder element geochemistry. The geochemistry of these new target areas is comparable to the soils above the adjacent Overlook gold deposit, a mine previously operated by Echo Bay Mines Ltd. The new targets appear to be untested and may represent a significant extension of the Overlook deposit. The Company is planning a low-cost drill program to test the new target areas. The new high-grade gold targets are 650 and 750 metres to the south of the historic drill holes. The targets are well supported by the Company's exploration model. Based on that model, the orientation of the Overlook mineralization appears to be relatively flat-lying. The anticipated new mineralized targets at Adamera's Oversight property are estimated to be at 20 to 50 metres depth. Eight historic drill holes located on Adamera's Oversight property intersected significant mineralization including 10.7 meters of 11 g/t gold, 45 metres of 5 g/t, 18 metres of 7.5 g/t and 2.13 metres of 43.4 g/t gold. Soil samples over this mineralized zone contain anomalous gold, arsenic and copper values. To date, only a small number of soil samples have been analyzed for gold across the property and remaining samples will be submitted for gold analysis to help identify additional similar areas of interest. It is not known if the mineralization associated with the high-grade historic drill intersections described above has been mined. The company is currently seeking underground mining information pertaining to this area prior to drilling in 2015. The Company has staked additional claims in the region and around the Oversight property for which the company is awaiting approval. Soil samples were initially analyzed using XRF by Adamera to determine certain pathfinder element concentrations. Selected samples were submitted to Acme Analytical Laboratories Ltd. for gold analysis using aqua regia digestion and ICP-MS.

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